Daily Morning Update 05 Jan 2012
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Transcript of Daily Morning Update 05 Jan 2012
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8/3/2019 Daily Morning Update 05 Jan 2012
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DAILY TRADING H IGHLIGHTS & OU TLOOK 05t h
Jan, 12
1
MARKET OUT LOOK
The NIFTY opened on a positive note and traded in the range of 47774729
levels. The index witnessed a sideways movement in the intraday session after a
strong opening. The index eventually closed the day at 4749 levels with a loss of 15
points.
Once again the index has continued its pullback from the crucial support levels of
46404700 range. The index is forming higher top higher bottom pattern
indicating bullish trend. Going forward index has an immediate resistance at its
midterm moving average. Sustenance above 4800 it can head for 4850 (Declining
trend line).
On the downside the NIFTY has support near its crucial support levels of 4700
below which it can finds support at 4640 / 4600 levels.
Key Levels & Averages
S&PCNXNIFTY
OPEN 4775.2
HIGH 4799.0
LOW 4737.6
CLOSE 4760.2
Change(pts) -15.6
Change (%) -0.3
Advanc/Decline 1
Total Turnover
(` in cr.)
971
INDEX Close Support-1 Support-2 Resistance-1 Resistance-2 8 DMA 34 DMA 200 DMA
NIFTY 4760.2 4732 4704 4794 4827 4718 4809 5276BANK NIFTY 8350 8160 7970 8455 8560 8221 8532 10167
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8/3/2019 Daily Morning Update 05 Jan 2012
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DAILY TRADING H IGHLIGHTS & OU TLOOK 05t h
Jan, 12
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Rolta India Limited CMP` 62 .10
Technical Outlook & Trading Strategy:-
The share price of Rolta India Limited has fallen from the highs of `131 and unable to trade above its midterm moving
average for past few months. The stock has closed above its midterm moving average with an above ave
volume. The momentum indicator has also come out of an oversold zone indicating more upside for the stock.
We advice traders to initiate long at current level and again on the pullback to the levels of `61 --` 61.5 0 with a stop
loss placed below ` 59 .4 for Targets of `6 6 / ` 68 in the coming trading sessions.
Educomp Solutions Limited CMP` 2 04
Technical Outlook & Trading Strategy:-
The Share Price of Educomp Solutions Limited has been trading sideways for past few sessions. Today
registered a breakout from its cluster of moving average. The stock is also sustaining above the rising trend line. The
RSI indicator is rising indicating stock to rally.
We adv ice traders to go long at current level with a stop loss placed below ` 195.40 for the ta rgetso
the near term.
Disclaimer
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